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i want to turn to the deficit. mitt romney claims with these tax cuts, he will not add to the deficit. >> my number one principle is, no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. part one. so there is no economists can say mitt romney's tax plan adds $5 trillion. my plan is not to put in place any tax cut that will add to the deficit. >> look at the facts here again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says its by reducing deductions and closing loopholes, but hasn't said which or how many. so the verdict here is simply in complete. we just don't know, wolf. >> he also suggests repeatedly, john, that by improving the economy, there would be a dynamic scoring as they call it more revenue coming in, because more money would be coming into the taxes, businesses and individuals could be doing better. as a result, he's justifying the trillion dollar tax cut if you will. >> hence the grade incomplete. >> he hasn't offered a lot o
i want to turn to the deficit. mitt romney claims with these tax cuts, he will not add to the deficit. >> my number one principle is, no tax cut that adds to the deficit. i won't put in place a tax cut that adds to the deficit. part one. so there is no economists can say mitt romney's tax plan adds $5 trillion. my plan is not to put in place any tax cut that will add to the deficit. >> look at the facts here again. mitt romney has not laid out specifics for how he would pay for his...
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we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've got some money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that we live in, that we can afford to do a little bit more to make sure we're not blowing up the deficit. >> jim, the president began this segment, so i think i get the last word, so i'm going to take it. >> lehrer: you're going to get the first word in this segment. >> let me just make this comment-- let me repeat what i said. i'm not in favor of a $5 trillion tax cut. that's not my plan. my plan is not to put in place a
we ended up moving from surplus to deficits. and it all culminated in the worst financial crise since the great depression. bill clinton tried the approach that i'm talking about. we created 23 million new jobs. we went from deficit to surplus, and businesses did very well. so in some ways, we've got some data on which approach is more likely to create jobs and opportunity for americans and i believe that the economy works best when middle-class families are getting tax breaks so that they've...
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we have trillion-dollar deficits. the cbo says we will have a trillion-dollar deficit the next four years. have you said before you would cut the deficit in half. i love this idea of $4 trillion in cuts, ways to reduce or get closer to a balanced budget, but we show trillion life dollar deficits every year. that doesn't get the job done. >> that was the sound bite, talking about what the president has done with the debt. you saw the exchange between the two men on that. welcome back to the university of denver. behind me in the hall, on the debate floor, the people are milling about. now the action is over with bret in spin alley. but first, we want to go to chris wallace, who is in wash wawash with his own take on how the night went. chris? >> reporter: hey. you know, i have been thinking and trying to put it in historical context, what tonight reminded me of more than any other debate, the first kerry/bush debate, where john kerry took the battle to george bush. and bush, the president, seemed very uneasy, didn't se
we have trillion-dollar deficits. the cbo says we will have a trillion-dollar deficit the next four years. have you said before you would cut the deficit in half. i love this idea of $4 trillion in cuts, ways to reduce or get closer to a balanced budget, but we show trillion life dollar deficits every year. that doesn't get the job done. >> that was the sound bite, talking about what the president has done with the debt. you saw the exchange between the two men on that. welcome back to...
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no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about $3,600. the reason is, i believe we do best when the middle class does well. and by giving them those tax ts, they have a little more money in their pocket so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession we went through. they can buy a computer for their kid who is going off to college. it means they are spending more money, businesses have more profits and then hire more workers. now governor romney's proposal that he's been promoting for 18 months calls for a $5 trillion tax cu
no tax cut that adds to the deficit. i want to reduce the burden being paid by middle income americans. to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is not accurate. >> let's talk about taxes, because i think it is instructive. four years ago when i stood on this stage i said i would cut taxes for middle class families. that's exactly what i did. we cut taxes for middle class families by about $33,600. -- by about...
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that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked all her life, put in this money, and understood that there was a basic guarantee under which she could not go. that's the perspective i bring when i talk about what's called entitlements. the name implies some sort of dependency on the part of folk. these are folks that have worked hard, like my grandmother and millions are counting on this. my approach is to say how do we strengthen the system over the long term? in medicare, what we did, we id we are going to have to bring down the costs if we are going to deal with long-term deficits. to d
that's the big driver of our deficits right now. my grandmother, some of you know, helped to raise me, and my grandparent did. my grandfather died a while back. my grandmother died three days before i was elected president. she was fiercely independent. only with a high school education, started as a secretary and ended up being vice president of a local bank. she ended up living alone by choice, and the reason she could be independent was because of social security and medicare. she had worked...
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no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason is because i believe that we do best when the middle- class is doing well. by giving them those tax cuts, they have more money in their pocket. maybe it does not buy new car. they are in a better position to weather the extraordinary recession we went through. they may be able to y new computer for their kid who is going off to college. governor romney's proposal that he has been promoting for 18 months calls for of five trillion dollars tax cut on top of $2 trillion of additional spending for our military. he is saying he is going to pay
no tax cut that adds to the deficit. i do want to reduce the burden being paid by middle income americans. that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. -p>> let's talk about taxes, because i think it is instructive. four years ago when i stood on the stage, i said that i would cut taxes for middle-class families. that is exactly what i did. we cut taxes for middle-class families by about $3,600. the reason...
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no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle income americans, and to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. >> mr. president. >> obama: let's talk about taxes, because i think it's instructive. now four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes for middle class families by about $3,600 and the reason is because i believe that we do best when the middle class is doing well and by giving them those tax cuts they had a little more money in their pocket, so maybe they can buy a new car, they are certainly in a better position to weather the extraordinary recession we were in to. they are spending more money. businesses have more customers, make more profits, and hire more workers. now governor romney's proposal calls for a $5 trillion tax cut on top of $2 trillion of additional spending
no tax cut that adds to the deficit. but i do want to reduce the burden being paid by middle income americans, and to do that, that also means i cannot reduce the burden paid by high-income americans. any language to the contrary is simply not accurate. >> mr. president. >> obama: let's talk about taxes, because i think it's instructive. now four years ago when i stood on this stage, i said that i would cut taxes for middle class families, and that's exactly what i did. we cut taxes...
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you said you would cut the deficit in half. we have trillion-dollar deficits. cbo says we will have a trillion-dollar deficit each of the four years. you have said before, you would cut the deficit in half. i love this idea of $4 trillion in cuts and ways to reduce or get closer to a balanced budget, but we show trillion-dollar deficits every year that. doesn't get the job done. let me say, why is it that i don't want to raise taxes? why don't i want to raise taxes on people? and actually, you said it in 2010, you said, i am going to extend the tax policies i have. i am not going to raise taxes because when the economy's slow and we are in recession, you shouldn't raise taxes on anyone. the economy is still slow. as a matter of fact, it's growing more slowly now than when you made that statement. if you believe the same thing, you don't want to raise taxes on people. the reality is, it is not just donald trump you are taxing. it is all those businesses that employ one-quarter of the work fwherz america. these small businesses that are taxed as individuals. you
you said you would cut the deficit in half. we have trillion-dollar deficits. cbo says we will have a trillion-dollar deficit each of the four years. you have said before, you would cut the deficit in half. i love this idea of $4 trillion in cuts and ways to reduce or get closer to a balanced budget, but we show trillion-dollar deficits every year that. doesn't get the job done. let me say, why is it that i don't want to raise taxes? why don't i want to raise taxes on people? and actually, you...
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no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle class families by about $3,600. and the reason is, because i believe that we do best when the middle class is doing well. and by giving them those tax cuts, they have a little more money in their pocket. so maybe they can buy a new car. they are certainly in a better position to weather the extraordinary recession that we've went through. they can buy a computer for their kid, who's going off to college. which means they're spending more money, businesses have more customers, businesses make more profits, and then hire more workers. now, govern
no tax cut that adds to the deficit. but i do want to increase the dividend being paid to middle income americans, so i cannot reduce the burden paid by high-income americans. so any language to the contrary is simply not accurate. >> mr. president? >> well, i think, let's talk about taxes, because i think it's instructive. now, four years ago when i stood on this stage, i said that i would cut taxes for middle class families. and that's exactly what i did. we cut taxes for middle...
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[cheers and applause] we have already reduced the deficit. in four years, we will reduce it by another $1 trillion. there is an easy way to do this. we have to make some difficult decisions. we have to ask the very wealthy to pay more. ladies and gentlemen, we are going to end the war in afghanistan as we did in iraq. [cheers and applause] and in the process, over the next decade, save over $800 million. we're going to come home with that money and put half of it down to reduce the debt and half of it to rebuild america! [cheers and applause] roads, bridges, schools. that will support millions over time. initially, tens of thousands of new, good paying, decent jobs that you can raise a family on. folks, one more thing. in this country, we only have one truly sacred obligation. we have a lot of obligations to the elderly, to the young. we only have one truly sacred obligation. that is to equip and support those whom we sent to war and care for them when they come home from war. [cheers and applause] how many of you either have personally serve
[cheers and applause] we have already reduced the deficit. in four years, we will reduce it by another $1 trillion. there is an easy way to do this. we have to make some difficult decisions. we have to ask the very wealthy to pay more. ladies and gentlemen, we are going to end the war in afghanistan as we did in iraq. [cheers and applause] and in the process, over the next decade, save over $800 million. we're going to come home with that money and put half of it down to reduce the debt and...
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. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on middle income families. i will lower taxes on middle income families. now, you kite a study. there is six other studies that looked at the study you described and say it's completely wrong. >> the president based his assertion about a $2,000 tax increase on a study by the tax policy center which had exempted some tax deductions from any cuts in its analysis. then it concluded the plan could only be deficit neutral with a tax hike on the middle class and obama ads are hammering away. >> why won't obama level with us about the tax plans. >> the tax policy center, however, later changed its assessment. it said if romney p
. >> the only way to meet governor romney's pledge of not reducing the deficit or not adding to the deficit is by burdening middle class families, the average middle class family with children would pay $2,000 more. >> others have estimated the total value of the tax cuts would be some $5 trillion over ten years. governor romney says he will keep it deficit neutral and pledges there is one thing he won't do no matter what. >> i will not under any circumstances, raise taxes on...
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deficit with nine games to go. they did much, by sweeping the rangers. san francisco giant, won two years ago. >> they will host the cincinnati reds saturday and sunday at at&t park for the best of five series. and the team will move to game three and game four if necessary. if there's a game five, team would come back to at&t park. >>> these photos came in the afternoon, showing younger aged fans and their moms much the kids are able to say, baseball history. send the photos and the dramatic win. e-mail at photos at ktvu.com. post them directly and we may post some of their photos during the broadcast. >>> there's an officer-involved shooting. news chopper 2 flew over the cal train. what we've been told, the san mateo transit officer fired his weapon while the train was in san jose. we've been told one person was wounded and we do not know that person's condition. >>> a mistrial was declared in the federal cocaine fraud trial of the former crime lab technician. according to the juror, debra madden took cocaine fro
deficit with nine games to go. they did much, by sweeping the rangers. san francisco giant, won two years ago. >> they will host the cincinnati reds saturday and sunday at at&t park for the best of five series. and the team will move to game three and game four if necessary. if there's a game five, team would come back to at&t park. >>> these photos came in the afternoon, showing younger aged fans and their moms much the kids are able to say, baseball history. send the...
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we have increased deficits. we have had unemployment over 8%. the middle class is hurting. and i think he did, thomas, give specifics. he gave his five-point plan how he is going to create jobs in this country. >> but senator, you don't think that we are better off than four years ago when it comes to 43 straight months of job growth, the fact that the auto bailout worked? the fact we have drawn out of the war in iraq and we are now slowly trying to map out the course to leave afghanistan? you don't think that the country is better off than we were four years ago as a whole, collectively? >> since you brought up the foreign situation, i think we are in a much worse position because the president withdrew from iraq and afghanistan without benchmarks that would be required to keep those countries stable when we leave. that's why we are seeing our people being shot by insiders in afghanistan. why things are breaking up in iraq. i don't think the world is safer because of what president obama has done. i think his foreign policy is very -- >> do you think we need to pull out of
we have increased deficits. we have had unemployment over 8%. the middle class is hurting. and i think he did, thomas, give specifics. he gave his five-point plan how he is going to create jobs in this country. >> but senator, you don't think that we are better off than four years ago when it comes to 43 straight months of job growth, the fact that the auto bailout worked? the fact we have drawn out of the war in iraq and we are now slowly trying to map out the course to leave...
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you said you'd cut the deficit in half, it's four years later, we still have trillion dollar deficits. we'll have it each of the next four years. if you are re-elected, we'll get to a trillion dollar debt. you have said before you'd cut the deficit in half. and i love this idea of $4 trillion in cuts. you found $4 trillion ways to get closer to a balanced budget yet we show trillion dollar deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want to raise taxes, why do i want to raise taxes on people? and actually, you said it, back in 2010, you said, look, i'm going to extend the tax policies that we have. i'm not going to raise taxes on anyone, because xhen twhen we'r recession, you shouldn't raise taxes on anyone. well, the economy is still going slow. as a matter of fact, it's growing much more slowly now than when you made that statement. and so, if you believe the same thing, you just don't want to raise taxes on people, and the reality is, it's not just wealthy people, you mentioned donald trump. it's not just donald trump. it's a
you said you'd cut the deficit in half, it's four years later, we still have trillion dollar deficits. we'll have it each of the next four years. if you are re-elected, we'll get to a trillion dollar debt. you have said before you'd cut the deficit in half. and i love this idea of $4 trillion in cuts. you found $4 trillion ways to get closer to a balanced budget yet we show trillion dollar deficits every year. that doesn't get the job done. let me come back and say, why is it that i don't want...
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he talked about lowering the deficit in half, not redistributing wealth. and not, as he said, hurting the taxpayer and gtting rid of broad and things like that. i think these economists look at numbers and they see reality, they featu $6 trillion in debt. and they figure it is time to move on. neil: having said that, they seem to have crunched the numbers and looked on the weakness of this recovery and concluded maybe a fresh start is in order. but doesn't factor in a smart money angle that we are missing? smart money seems to be saying that there is not mh money for this recovery to be had. >> will look at their records. we have president obama who hasn't had any experience in the private sector and we have governor romney who does understand. america, yes, we do need a ceo in chief. we also need someone who understands that the business leadership to be able to broker and work in washington where there is a lot of polarized politics. governor romney is adjusting licies that democrats and republicans can agree. we need to simplify the tax code, we need to
he talked about lowering the deficit in half, not redistributing wealth. and not, as he said, hurting the taxpayer and gtting rid of broad and things like that. i think these economists look at numbers and they see reality, they featu $6 trillion in debt. and they figure it is time to move on. neil: having said that, they seem to have crunched the numbers and looked on the weakness of this recovery and concluded maybe a fresh start is in order. but doesn't factor in a smart money angle that we...
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one more point*. >> we had this discussion before the. >> in order to reduce the deficit there have to be revenue in addition to cut. >> mitt romney has ruled out revenue. >> absolutely. neil: okay. i think the gist of that was how to get the deficit under control in have to have a mix of spending cuts and tax increases. and what about the president in a mitt romney to some ratio? and that it would not cut it for him. i don't think he scored. i think romney clearly one. he does need to provide more specifics, but i think he was in command. he made a couple of statements that need to be clarified. and he does not want more revenue but he wasn't true growth not taxes. what do you define as more revenue? as compared to current gdp your under current law? we are under much higher levels than before. to thing surprised me. obama's said social security doesn't have a problem. it needs tweeting. it is underfunded $8 trillion and he also said his idea was not that different than governor romney's. especially since the president has not said much but when the president compared himself to bill
one more point*. >> we had this discussion before the. >> in order to reduce the deficit there have to be revenue in addition to cut. >> mitt romney has ruled out revenue. >> absolutely. neil: okay. i think the gist of that was how to get the deficit under control in have to have a mix of spending cuts and tax increases. and what about the president in a mitt romney to some ratio? and that it would not cut it for him. i don't think he scored. i think romney clearly one....
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social security hasn't contributed one nick toel to th deficit. can pay out benefits for the next 21 years. the president should be saying now what he said four years ago. he will not cut social security while romney and ryan certainly are. >> now, senator, one thing that i think is puzzling democrats and supporters of the president, as well, today is both men had a chance at closing arguments last night. that is one of the things that they knew was coming their direction. listen in part to what president obama had to say. >> four years ago, i said that i'm not a perfect man and i wouldn't be a perfect president and that is a promise that governor romney thinks i kept. >> why specifically point out the flaws? was that a good choice? >> well, i think not. i mean, i think -- here's what i think the position of the president should be. look, everybody knows the economy is in a lot of trouble today. we all know that. everybody knows that the rich are getting much richer and the middle class is shrinking and poverty and that is the simple truth. but wh
social security hasn't contributed one nick toel to th deficit. can pay out benefits for the next 21 years. the president should be saying now what he said four years ago. he will not cut social security while romney and ryan certainly are. >> now, senator, one thing that i think is puzzling democrats and supporters of the president, as well, today is both men had a chance at closing arguments last night. that is one of the things that they knew was coming their direction. listen in part...
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the actual deficits are a trillion dollars. he promised to cut in the half and he didn't and if you open up the budget of the united states under his policies the debt explodes, you can see it on page 52 of their analysis of the budget outlook. he said last night that budgets are about making choices. having a budget that chooses to have the debt explode and endanger our children is a poor choice. >> i think that's misleading because if you look at the c.b.o. scoring of the president's budget, he achieves a stable budget path within the ten-year budget window. so, again, we have a factual disagreement. >> i said if you look at the long-term budget outlook the debt explodes. so year 11 matters. my children are not yet -- >> well, let's deal with the first decade. >> brown: all right, we've cleared up everything. (laughter) thank you so much. douglas holtz-ae kin, jared bernstein, thanks. >> woodruff: still to come on the "newshour": rising tensions on the syria turkey border; how the presidential debate played for some florida v
the actual deficits are a trillion dollars. he promised to cut in the half and he didn't and if you open up the budget of the united states under his policies the debt explodes, you can see it on page 52 of their analysis of the budget outlook. he said last night that budgets are about making choices. having a budget that chooses to have the debt explode and endanger our children is a poor choice. >> i think that's misleading because if you look at the c.b.o. scoring of the president's...
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we asked, who would better hanel the nation's deficit, 57% said romney. 41% said president obama. we asked, who agrees with your views about government? that was the question we asked. 54% said governor romney. 44% said president obama. anderson, looks like a clean sweep on all those respective questions for governor romney over president obama. >> wolf, are you clear who these voters are? republicans democrats? >> registered voters, republicans, democrats, undecided. people called, scientific survey. we wanted to make sure they watched the debate. not all registered voters, not all likely voters, these are registered voters who watched the debate. >> you are getting the sample you get. you call after the debate. our sample of debate watchers, a sample of people watching the debate. registered voters. a few point more republicans than a typical sample of all americans. a few points, not a large lead. a few points more republican, so some people say, a-ha, 67/25. romney still trounces on about every characteristic. it shows debate watchers give romney a convincing victory. we need
we asked, who would better hanel the nation's deficit, 57% said romney. 41% said president obama. we asked, who agrees with your views about government? that was the question we asked. 54% said governor romney. 44% said president obama. anderson, looks like a clean sweep on all those respective questions for governor romney over president obama. >> wolf, are you clear who these voters are? republicans democrats? >> registered voters, republicans, democrats, undecided. people called,...
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mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of different details of that proposal but i would also say that limiting deductions to $17,000 for middle-class families still results in a tax increase. even in just the health premium deduction, for families last year, were about $15,000. there you go. what happens to the mortgage deduction, charitable deduction, child deduction. he's raising taxes on middle class families. >> if this comes up and mitt romney starts to do that math that paul ryan wouldn't do, i'm sure this will be a topic of discussion. >> how worried are you about the jobs report on friday? >> we face this ev
mitt romney, doesn't have a deficit reduction plan. he wants to spend $2 trillion more in defense, $5 trillion more in a tax cut won't tell us how you pay for, before you even start talking about deficit reduction. it's a joke to think mitt romney will actually take action to redaus the deficit. >> taxes, this week he did come out with this proposal of eliminating $17,000 in deductions. >> right. >> your response to that? >> well, you know, he left out a number of...
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come up with enough deductions and loopholes that only affect individuals to avoid either raising the deficit or burdening the middle class. it's math. >> reporter: on medicare and social security,one agreement. >> neither the president nor are are i are proposing any changes. >> aarp has said that your plan would weaken medicare, substantially. >> romney fired back a a major debate moment that the president weakened the economy by his focus on health care. >> i don't know how the president could have come into office facing rising unploimt and spending energy and passion fighting for obama care. >> we did work on this alongside working on jobs. this is part of making sure that middle class families are secure in this country. >> a substantial debate. no zingers. i'm steve handles, nbc news, denver. >> as mentioned, we heard a t lo of promises from both candidates. did any resonate with people out of work or those about to enter the job market? jim rosenfield continues our k06 raj. he continues at george mason yucht, jim? >> doreen, first time young and many of them undecided voters. here at
come up with enough deductions and loopholes that only affect individuals to avoid either raising the deficit or burdening the middle class. it's math. >> reporter: on medicare and social security,one agreement. >> neither the president nor are are i are proposing any changes. >> aarp has said that your plan would weaken medicare, substantially. >> romney fired back a a major debate moment that the president weakened the economy by his focus on health care. >> i...